Overdraft Protection Plan Survey

Overdraft Protection Plans have supporters and detractors.  Some consumers welcome the fact that they will not bounce significant checks.  Some complain about the number of overdraft fees that may result, especially if the bank employs high-to-low check processing (which every good UCC scholar knows is the bank's choice - low-to-high, high-to-low, order received -- just have a policy & follow it!). 

Earlier this year, FDIC proposed to conduct a survey of overdraft protection plan practices, directed to 500 state-chartered, non-member banks.  Here's a link to the Independent Community Bankers Association comment letter to FDIC about that proposal:  http://www.icba.org/files/ICBASites/PDFs/cl022807.pdf

(ag) Mar. 6, 2007, in Deposit Regulation